Altcoins soar, while Bitcoin and Ethereum price stall near key levels
Altcoins moved higher, while a lack of buy volume prevented Bitcoin and Ether price from breaking out after the completion of a bullish inverse head and shoulders pattern. On Wednesday, the bullish momentum that had propelled Bitcoin (BTC) and altcoins into a relief rally was somewhat subdued, as traders remain unsure of what may happen next.
After an early morning attempt by Bitcoin bulls to drive BTC’s price above $40,000 was met with stiff resistance, the digital asset lost momentum and slumped back to the $38,000 support level.
Despite the continued struggle, a few positive signs such as a decline in BTC exchange deposits and an uptrend in addresses accumulating Bitcoin suggest that bears have stopped selling and the worst of the downturn may have passed. Earlier in the day, Ether (ETH) also rallied close to the $3,000 level, but the pullback in BTC price saw the top altcoin fall below $2,800.
Polygon leads the altcoin charge
While a majority of the cryptocurrencies are well below recently established highs, Polygon’s (MATIC) price bucked the trend by seeking out a clear V-shaped recovery. The altcoin rallied higher today as the project announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. Since Tuesday, MATIC has rallied 50% from a low of $1.51 to an intraday high at $2.44 on Wednesday. According to data from Cointelegraph Markets Pro, market conditions for MATIC have been favorable for some time.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. As seen in the chart above, the VORTECS™ Score for MATIC has been in the green zone for most of the past week, and it registered a high of 94 several times on Tuesday, around seven hours before the price increased 50% over the next day.
Other notable altcoin performances include an 89% gain for Skale Network (SKL) and a 67% rally from Enjin Coin (ENJ). Origin Protocol also gained 53%. The overall cryptocurrency market capitalization now stands at $1.7 trillion, and Bitcoin’s dominance rate is 42.5%.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 70% | 62 | $38 877.56 | -7.74% | -7.67% | $736 181 998 656 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 63.2% | 78 | $2 846.65 | -9.53% | -11.39% | $339 462 913 103 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $1.000201 | -0.01% | -0.02% | $78 290 326 799 |  |
|
| 4 |  BNB |
Binance Coin predictions | 69.6% | 56 | $426.69 | -8.19% | -9.55% | $70 454 015 232 |  |
|
| 5 |  USDC |
USD Coin predictions | 92.8% | 1 | $0.999831 | 0% | 0.01% | $42 379 408 068 |  |
|
| 6 |  ADA |
Cardano predictions | 72.8% | 49 | $1.22 | -9.99% | -1.49% | $40 782 615 526 |  |
|
| 7 |  SOL |
Solana predictions | 60.4% | 87 | $121.85 | -11.55% | -15.01% | $38 324 736 333 |  |
|
| 8 |  XRP |
XRP predictions | 72.4% | 59 | $0.687990 | -7.42% | -9.37% | $32 791 736 353 |  |
|
| 9 |  LUNA |
Terra predictions | 72.4% | 58 | $75.94 | -7.53% | -1.95% | $27 064 805 569 |  |
|
| 10 |  DOT |
Polkadot predictions | 76.4% | 48 | $22.32 | -9.11% | -15.35% | $22 041 526 314 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 76.4% | 50 | $0.153582 | -6.90% | -18.71% | $20 375 859 355 |  |
|
| 12 |  AVAX |
Avalanche predictions | 62.4% | 77 | $75.42 | -11.29% | -14.66% | $18 427 649 915 |  |
|
| 13 |  BUSD |
Binance USD predictions | 94.4% | 1 | $1.000463 | 0.19% | 0.09% | $14 239 613 244 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 66% | 68 | $0.000026 | -8.11% | -16.56% | $14 062 977 878 |  |
|
| 15 |  MATIC |
Polygon predictions | 67.6% | 62 | $1.88 | -10.07% | -15.01% | $13 961 640 892 |  |
